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Rep. Lindsay Parkhurst
Filed: 4/2/2018
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| 1 | | AMENDMENT TO HOUSE BILL 4803
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| 2 | | AMENDMENT NO. ______. Amend House Bill 4803 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The General Not For Profit Corporation Act of |
| 5 | | 1986 is amended by changing Section 108.50 as follows:
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| 6 | | (805 ILCS 105/108.50) (from Ch. 32, par. 108.50)
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| 7 | | Sec. 108.50. Officers. (a) A corporation shall have
such |
| 8 | | officers as shall be provided in the bylaws. Officers
and |
| 9 | | assistant officers and agents as may be deemed necessary
may be |
| 10 | | elected or appointed by the board of directors or
chosen in |
| 11 | | such other manner as may be prescribed by the bylaws.
If the |
| 12 | | bylaws so provide, any two or more offices
may be held by the |
| 13 | | same person. One officer, in this Act
generally referred to as |
| 14 | | the secretary, shall have the
authority to certify the bylaws, |
| 15 | | resolutions of the members
and board of directors and |
| 16 | | committees thereof, and other
documents of the corporation as |
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| | 10000HB4803ham001 | - 2 - | LRB100 19086 HEP 37807 a |
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| 1 | | true and correct copies
thereof.
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| 2 | | (b) All officers and agents of the corporation, as between
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| 3 | | themselves and the corporation, shall have such express
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| 4 | | authority and perform such duties in the management of the
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| 5 | | property and affairs of the corporation as may be provided
in |
| 6 | | the bylaws, or as may be determined by resolution of the
board |
| 7 | | of directors not inconsistent with the bylaws and
such implied |
| 8 | | authority as recognized by the common law from
time to time. |
| 9 | | (b-1) An individual may not simultaneously serve as the |
| 10 | | treasurer of a corporation and as an officer or chief executive |
| 11 | | of a political subdivision if the individual has the authority |
| 12 | | to unilaterally authorize transactions between both the |
| 13 | | corporation and the political subdivision.
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| 14 | | (c) The articles of incorporation or the bylaws may
provide |
| 15 | | that any one or more officers of the corporation or
any other |
| 16 | | person holding a particular office outside the
corporation |
| 17 | | shall be a director or directors while he or she
holds that |
| 18 | | office. Unless the articles of incorporation or
the bylaws |
| 19 | | provide otherwise, such director or directors
shall have the |
| 20 | | same rights, duties and responsibilities as
other directors.
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| 21 | | (Source: P.A. 84-1423.)
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| 22 | | Section 99. Effective date. This Act takes effect upon |
| 23 | | becoming law.".
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